Compliance technology and data analytics firm, SteelEye, has announced the launch of its new Order Book Replay service. This new market replay solution is designed to facilitate more precise market abuse surveillance. SteelEye’s market replay tool enables organisations to replay a trading session, allowing them to analyse market movements more thoroughly.
The tool enables compliance teams to play, pause, rewind, fast forward, slow down and speed up order book activity to gain a full understanding of what has taken place — visually displaying the overall balance of the book against market price levels and spreads.
The solution also highlights where trading activity might be indicative of market abuse behaviour such as spoofing and layering. It is fully incorporated and already live for a range of clients.
Matt Storey, CPO at SteelEye, says: “Today, most firms have a limited retrospective view of their trading operations which restricts their ability to identify opportunities, risks, and compliance threats.
“As regulators crack down on market abuse, SteelEye’s market replay provides a comprehensive yet accessible visual representation of a firm’s order and trade activity against the full order book so they can more effectively monitor for irregular behaviours.”
Matt Smith, SteelEye CEO, adds: “There have been many recent, high-profile examples of firms being reprimanded and fined by regulators for market abuse. These events act as stark reminders of the need to identify, investigate, mitigate, and report on potential instances of market manipulation.
“With SteelEye’s comprehensive Order Book Replay, firms can more effectively oversee their trading operations to better detect market manipulation, not to mention providing data insight that can power enhanced decision making and trading performance.”
